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The Million Dollar Host (EP 300)

The Million Dollar Host (EP 300)

The One Million Dollar Host


In under three years, Julie George went from listing her one-bedroom apartment on Airbnb to running a successful property management company that turned over $5.5M. So, how did Julie scale from one to 130 units in 19 months? And how can you follow in her footsteps to become a million-dollar host?

Julie George is the founder of Host My Home, Queensland’s top short-term rental (STR) property management company. She leveraged her background in hospitality, marketing and real estate sales to help property owners replicate the success she had hosting on Airbnb. In June 2019, Julie sold Host My Home, and today, she travels the world and runs Million Dollar Host, a consulting platform designed to help aspiring Airbnb entrepreneurs grow their business. Julie is also the author of Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too!

On this episode of Get Paid for Your Pad, Julie joins me to share her Airbnb origin story and explain how she built, scaled and sold Host My Home. She offers advice on optimizing your revenue as a STR host and walks us through her process for onboarding a new property. Listen in for Julie’s insight on maintaining total control of the listings you manage and learn how YOU can get into the Airbnb property management game!

Topics Covered

Julie’s Airbnb origin story

  • Tenant moved out of 1BR apartment
  • List on Airbnb (from $240 to $600/week)
  • Help others with property management

Where Julie’s STR business was located

  • Cairns, Queensland, near Great Barrier Reef
  • Tourism hub w/ demand for accommodations

Julie’s journey to building Host My Home

  • Help property investors buy vacation homes
  • Establish self as local expert through articles
  • Hire cohosts in January 2018 (up to 15 STRs)
  • Scale to 130 properties, $5.5M by June 2019

How Julie sold her property management company

  • Writing Million Dollar Host generated buzz
  • Took offer from Hometime, sold June 2019

Julie’s tips for optimizing revenue on Airbnb

  • Use fresh photos + floor plans, good content
  • Offer extras (e.g.: coffee machines, bicycles)
  • Keep minimum nightly stay low to fill 100%
  • Keep eye on competitors, research rates

Julie’s process for onboarding a new property

  • Establish realistic expectations IN WRITING
  • Cover what clean entails, consumables, etc.

The opportunity to get into the management game

  • Novelty wears off quickly for new hosts
  • Get message out re: services you offer

How the STR landscape has changed since 2016

  • More competition means work harder
  • Additional education, support available

Julie’s advice for aspiring property managers

  • Maintain total control of listing (vs. cohost)
  • JUST DO IT

Connect with Julie

Million Dollar Host

Email julie@milliondollarhost.com.au

Resources

Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too! by Julie George

Get Paid for Your Pad: How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa Kapadia

Host My Home

Floorplanner

Hometime

Host 2019

STR Legends Live

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